credit
Cash Back Bonuses vs Savings Interest

Cash Back Bonuses vs Savings Interest

finance
Cash back earned from Chase Freedom in 22 months: $481.41
Cashback earned from Discover it Miles in 7 months: $90.26 (that will double in 5 months)
Total cash return earned in less than 24 months: $571.67 ($661.93 whenever we add in the anticipated double points)
Total interest paid on those cards: $0
Interest earned over a 1.20% APY savings account with $15,000 no monthly deposits into two years: $364.17When i was writing my post on having the most out of cash back rewards cards, I started thinking about the savings account I opened not long ago and I realized that I've made more from cashback and bonuses with two credit cards in less than two years than I will have made after having my savings account for two years. Which led me to take into account how my cashback rewards aren't taxable along with the interest earned from my savings is. Allow me to say this now: I'm not discouraging opening a checking account or any similar taxable accounts. I'm still making profits from my money while I'm not utilizing it, instead of it just present. I just thought this was a interesting thing to consider.
This is how much I created from two cards. Eventually, I will stop getting sign-up bonuses, but nevertheless I would make a decent amount from cash back and in the future, hopefully, travel rewards. I haven't even gotten cards which will give me even greater rewards for gas and Amazon purchases because I spend a lot on those. The wheels are delivering my mind right now for the possibilities.

student loans

The only time I've ever paid money I didn't already dedicate to my credit card was that certain time I paid my Chase Freedom bill late (by only like 5 hours) together to pay a $25 late fee. Luckily, no interest was charged since it was during my intro 0% APR period so my no-interest streak continues. However i learned my lesson and after this have my bills set on autopay and haven't had another overdue since.
I guess case a small continuation in my other credit card articles plus a peek into my train of thought. Also, someone all-around me is anti-credit cards as well as perhaps this will convince these to change their mind. I've said hello before and I'll voice it out again: pay your cards fully each month so you don't get charged interest. Don't let the credit card own you. You own the credit card.
*Side note, the interest earned from the family savings in my example isn't determined by mine. 1.20% APY is one of the highest you'll find for the savings account these days understanding that bank requires a $25,000 initial deposit. I recently made up that scenario since a $15,000 deposit seemed more obtainable.

First Service

TOTAM REM APERIAM

This is where your text starts. You can click here to start typing. Porro quisquam est qui dolorem ipsum quia dolor sit amet consectetur adipisci.
 

Second service

ILLUM QUI DOLOREM

This is where your text starts. You can click here to start typing. Voluptate velit esse quam nihil molestiae consequatur vel illum qui dolorem.
 

Third Service

LAUDANTIUM TOTAM REM

This is where your text starts. You can click here to start typing. Incidunt ut labore et dolore magnam aliquam quaerat voluptatem ut enim.
 

Fourth Service

INVENTORE VERITATIS ET QUASI

This is where your text starts. You can click here to start typing. Rerum facilis est et expedita distinctio nam libero tempore cum soluta.